Food Inflation Increased 85% in Farvardin 1398 Compared to Last Year
Iran’s Statistics Center in its latest report assessed the monthly inflation rate (percentage change in the consumer price index compared to the same month last year) at 51.4 percent.
According to the report published on the Statistics Center’s official website on the first of Ordibehesht, the twelve-month inflation rate ending in Farvardin 1398 (annual inflation) reached 30.6 percent.
The International Monetary Fund assessed Iran’s inflation in 2018 (from December 10, 1396 to December 10, 1397) at 31.2 percent and forecast the current year’s inflation rate at 37.2 percent.
Thus, the IMF’s assessment of Iran’s inflation rate is higher than the Statistics Center’s assessment.
In any case, the Statistics Center states that the increase in consumer goods prices (inflation rate) was much higher than non-consumer goods and services.
According to the Statistics Center’s estimate, inflation of food, beverages and tobacco products in Farvardin compared to Farvardin 1397 was approximately 85.3 percent, but inflation of non-food goods was only 37.8 percent.
The same applies to the annual inflation rate; the annual inflation of food, beverages and tobacco products was approximately 44.9 percent and the annual inflation rate of non-food goods was approximately 24.9 percent.
Meanwhile, the monthly inflation rate in cities and villages was not the same; urban inflation was approximately 50 percent and rural inflation was approximately 59.4 percent.
In other words, the increase in prices of goods, property and services in villages was higher than in cities.
Some urban inflation indicators:
Following the United States’ withdrawal from the JCPOA in Ordibehesht last year, the inflation rate accelerated sharply along with the depreciation of the rial. The value of the Iranian rial has declined approximately 70 percent from the beginning of last year to now.
The annual inflation rate since the beginning of last year is shown in the following chart (percent):
Source: Radio Farda
